Ripple CEO Says 50% of Bitcoin is Controlled by Four Miners in China

Ripple CEO, Brad Garlinghouse appeared in front of an audience at the 2018 Stifel Cross Sector Insight Conference to share his thoughts on the long-term impact and future of cryptocurrency.

During his interview, Garlinghouse criticized Bitcoin for being too centralized and too slow.

Ripple CEO, Brad Garlinghouse: ”Bitcoin is really controlled by China. There are four miners in China that control over 50% of Bitcoin… How do we know that China won’t intervene? How many countries want to use a Chinese-controlled currency?”

“Bitcoin today takes 45 minutes to settle a transaction… A number of prominent people, even Steve Wozniak, has said that he sees a world where Bitcoin is the primary currency. I think that’s absurd. I don’t think that any major economy will allow that to happen. By the way, it doesn’t make sense.”

Originally via CryptoSlate

Ripple CEO, Brad Garlinghouse appeared in front of an audience at the 2018 Stifel Cross Sector Insight Conference to share his thoughts on the long-term impacts of Ripple’s technology and future of cryptocurrency mass adoption.